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AMP Bett3r Account

Interest rate
0.25% p.a.(for $0 to $100,000)
Maximum rate
1.00% p.a. (for $0 to $100,000)

Mozo editorial review AMP Bett3r Account

Last updated: 14 July 2020.

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What's hot
  • No account fees (when you deposit $2,000 per month into Bett3r Pay Account))
  • Three linked accounts to help manage your finances
  • 1.00% maximum rate (when you deposit $2,000 per month into Bett3r Pay Account))
What's not
  • Bonus rate only available on balances up to $100,000
  • No branch access
Mozo snapshot

With the AMP Bett3r Account, saving towards your goals is automatic, easy and will never leave you shuffling funds around to pay your bills. And as a bonus, if you deposit your wages of at least $2,000 per month into your Pay account you can earn 1.00% interest rate on your Save account. And with unlimited free app-based online transactions, what more can you ask for?

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Key features

The AMP Bett3r Account is an innovative newcomer to the transaction and savings account world. With the Bett3r Save, Bett3r Pay and Bett3r Spend all linked together as if they were one bank account, it’s set up to help you manage your money better.

Here’s how it works: First, the money that needs to go toward things like bills and rent goes into your Pay Account, so all that important stuff is taken care of.

Then, you can set up your Save account with money savings goals and when you’d like to reach them - say a $15,000 set of wheels in two years time. Your account will automatically put away money so you can reach that goal within your timeframe. Neat, right?

And while your money is building toward your goals in your Bett3r Save Account, it will earn 0.25% interest, without you lifting a finger. But if you commit to making a minimum deposit of $2,000 to the linked Bett3r Pay Account each month, that bumps up to 1.00%.

There are no monthly account fees to worry about, and you can manage your account both online and over the phone with free, unlimited transactions. Saving has never been so easy.

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Who is it good for

If you’ve got money goals but find it hard to stay motivated or organised enough to meet them on your own, the Bett3r Account could just be the solution you’re looking for, since the three-account setup prioritises and automates savings.

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Any catches

There’s no AMP branch access available, so make sure you're comfortable managing your account from your mobile app or over the phone before going ahead with this one.

Plus, remember, although this account won’t cost you anything to open, the Bett3r Pay Account does have a $5 monthly fee (but another benefit of meeting the minimum $2,000 monthly deposit from an external source requirement is that this fee will be waived when you do.)

Details

Rates and fees information correct as at 13 August 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 0.25% p.a.
    Balances from $100,000: 0.00% p.a.

  • Balances from $0: 1.00% p.a.
    Balances from $100,000: 0.25% p.a.
    Balances from $5,000,000: 0.00% p.a.

  • Minimum deposit of $2,000 per month into linked Bett3r Pay Account from an external source. By depositing $2,000 per month you will also be entitled to the $5 fee waiver on the Bett3r Pay Account.

Fees
  • $0.00

  • n/a

  • Unlimited free transactions from mobile app, internet.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $0.00

  • $0.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • yes

  • yes

  • no

  • no

  • none

  • none

  • none

Customer Reviews

How are AMP savings accounts rated by the Mozo community?

Overall customer rating
7.0/10
Price
7.1/10
Features
6.2/10
Customer service
6.8/10
Convenience
6.7/10
Trust
7.2/10
AMP

About AMP

AMP is a leading wealth management company operating in Australia and New Zealand, with a rich evolving history spanning 150 years. Its growing banking business in Australia now includes a range of retail products such as home loans, credit cards, savings and accounts and term deposits. Also AMP's range of vehicle insurances are designed to give you more choice and flexibility while providing cover for a comprehensive range of accidents, damage and events.

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